Busey Wealth Management Has $110.49 Million Stake in Microsoft Co. (NASDAQ:MSFT)

Busey Wealth Management lifted its position in Microsoft Co. (NASDAQ:MSFTGet Rating) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 474,393 shares of the software giant’s stock after buying an additional 5,729 shares during the period. Microsoft comprises 5.5% of Busey Wealth Management’s holdings, making the stock its 2nd largest position. Busey Wealth Management’s holdings in Microsoft were worth $110,487,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of MSFT. Monumental Financial Group Inc. bought a new stake in shares of Microsoft during the 1st quarter worth approximately $28,000. Newfound Research LLC raised its holdings in shares of Microsoft by 25.4% in the 2nd quarter. Newfound Research LLC now owns 296 shares of the software giant’s stock valued at $76,000 after purchasing an additional 60 shares during the period. Darrow Company Inc. acquired a new stake in shares of Microsoft in the second quarter valued at approximately $82,000. Morgan Dempsey Capital Management LLC bought a new position in shares of Microsoft during the 3rd quarter worth approximately $82,000. Finally, Avondale Wealth Management increased its holdings in shares of Microsoft by 58.6% during the 3rd quarter. Avondale Wealth Management now owns 406 shares of the software giant’s stock worth $95,000 after acquiring an additional 150 shares during the last quarter. Institutional investors and hedge funds own 69.15% of the company’s stock.

Microsoft Stock Performance

Shares of Microsoft stock opened at $231.93 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 1.84. The business has a 50-day simple moving average of $241.84 and a 200-day simple moving average of $250.23. The company has a market cap of $1.73 trillion, a PE ratio of 24.99, a P/E/G ratio of 2.35 and a beta of 0.94. Microsoft Co. has a one year low of $213.43 and a one year high of $315.95.

Microsoft (NASDAQ:MSFTGet Rating) last announced its quarterly earnings data on Tuesday, October 25th. The software giant reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.06. The firm had revenue of $50.12 billion during the quarter, compared to the consensus estimate of $49.70 billion. Microsoft had a net margin of 34.37% and a return on equity of 42.10%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.27 earnings per share. On average, equities research analysts forecast that Microsoft Co. will post 9.52 EPS for the current fiscal year.

Microsoft Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 9th. Investors of record on Wednesday, February 15th will be issued a $0.68 dividend. The ex-dividend date is Wednesday, February 15th. This represents a $2.72 annualized dividend and a yield of 1.17%. Microsoft’s dividend payout ratio is currently 29.31%.

Analyst Ratings Changes

MSFT has been the subject of several recent research reports. Credit Suisse Group set a $365.00 price target on Microsoft in a research note on Friday, December 9th. Wells Fargo & Company lowered their price objective on shares of Microsoft from $315.00 to $300.00 and set an “overweight” rating for the company in a research report on Wednesday, October 26th. Evercore ISI cut their price objective on Microsoft from $300.00 to $280.00 and set an “outperform” rating on the stock in a report on Thursday. Royal Bank of Canada set a $285.00 price objective on shares of Microsoft in a report on Wednesday. Finally, Raymond James decreased their price target on shares of Microsoft from $300.00 to $280.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $288.33.

Insider Activity at Microsoft

In related news, EVP Judson Althoff sold 24,144 shares of the business’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $254.27, for a total value of $6,139,094.88. Following the completion of the sale, the executive vice president now directly owns 150,047 shares of the company’s stock, valued at $38,152,450.69. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.03% of the company’s stock.

Microsoft Profile

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Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. The company operates in three segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, Microsoft Viva, and Skype for Business; Skype, Outlook.com, OneDrive, and LinkedIn; and Dynamics 365, a set of cloud-based and on-premises business solutions for organizations and enterprise divisions.

Further Reading

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Institutional Ownership by Quarter for Microsoft (NASDAQ:MSFT)

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